! Required information [The following information applies to the questions displayed below.] Home Hardware reported beginning inventory of 35 shovels, for a total cost of $175. The company had the...

Extracted text: ! Required information [The following information applies to the questions displayed below.] Home Hardware reported beginning inventory of 35 shovels, for a total cost of $175. The company had the following transactions during the month: January 2 January 16 Sold 12 shovels on account at a selling price of $10 per unit. January 18 Bought 4 shovels on account at a cost of $5 per unit. January 19 Sold 12 shovels on account at a selling price of $10 per unit. January 24 Bought 12 shovels on account at a cost of $5 per unit. January 31 Counted inventory and determined that 15 units were on hand. Sold 9 shovels on account at a selling price of $10 per unit.

Sold 9 shovels on account at a selling price of $10 per unit. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit January 02 Record entry Clear entry View general journal "/>
Extracted text: 2. Prepare the journal entries that would be recorded using a perpetual inventory system, including any “book-to-physical" adjustment that might be needed. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 > Sold 9 shovels on account at a selling price of $10 per unit. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit January 02 Record entry Clear entry View general journal